Claims / Legal
Next Insurance Debuts Liquor Liability Insurance for Restaurants
Next Insurance is debuting liquor liability insurance for restaurants as part of its general liability coverage for small businesses. The cover is designed to address losses resulting from drunk ...
Judge Will Approve Purdue Pharma Bankruptcy Plan Shielding Owners From Opioid Lawsuit Liability
A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP's bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company's ...
Insurers Balk at Coverage for New Satellites as Space Debris Swells
An ever-swelling amount of space debris is threatening satellites that hover around Earth, making insurers leery of offering coverage to the devices that transmit texts, maps, videos and scientific ...
Hurricane Ida Could Cost Insurers as Much as $18B: Industry Experts
Insurers are bracing for a hit of about $18 billion from Hurricane Ida in the United States and the Caribbean, catastrophe modeling company Karen Clark & Co (KCC) said on Wednesday. The number, ...
Ida’s Floods and Outages Hamper Energy Firms’ Restart Efforts
Widespread flooding, power outages and debris-strewn roads slowed recovery efforts by energy companies on Tuesday after Hurricane Ida ripped into oil production facilities, ports and refineries. More ...
As COVID Cases Rise Again, U.S. Business Travelers Scale Back Travel Plans
With the COVID-19 Delta variant pushing infections higher again, U.S. business travelers are scaling back their travel plans, a new survey has determined. Approximately 67 percent of respondents said ...
Chubb Unit Disputes Aspect of Boy Scouts Sex Abuse Settlement, Complicating Resolution
A dispute over whether a unit of insurance giant Chubb Ltd. must contribute to a trust fund for sexually abused Boy Scouts is complicating talks to end the youth group's bankruptcy case. Lawyers for ...
‘Mission: Impossible’ Film Studio Sues Insurer Over Lack of COVID Shutdown Payments
Production on the new "Mission: Impossible" movie was shut down seven times due to the coronavirus pandemic, according to a lawsuit filed on Monday that accuses the film's insurance company of ...